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Cardano ADA News: ADA Supported By New Wallet

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Cardano ADA news

In addition to the rest of success that Cardano (ADA) has had in 2018, this cryptocurrency has also been added to a new successful wallet. The recent Cardano ADA news has announced that the coin was just added to Infinito wallet. The move was announced at the same time as the wallet’s latest update, and only a few days before Cardano’s first launching anniversary.

Infinito Wallet is the second large wallet that has added support for Cardano. The first one is the Cardano-specialized wallet for desktop, Daedalus, which was created by the coin’s own team. At the time of writing, users of Infinito can already send, receive, and check on ADA’s transaction information.

As mentioned, the Cardano ADA news came as part of the wallet’s 1.15.0 update. With the addition of ADA, the wallet now supports 10 cryptocurrencies. Those include Cardano, Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, EOS, NEO, Dash, and Dogecoin. Additionally, the wallet also offers support for numerous tokens, mostly those that use NEO’s NEP-5 standard, Ethereum’s ERC-20, or those from EOS’ blockchain.

In addition to adding the coin itself, Infinito also integrated two of Cardano’s products — Icarus and Prometheus. Not only that, but the company also announced an intention to back a few of Cardano’s blockchain features as well. The most notable one is Cardano’s Ouroboros, its new PoS algorithm.

New Cardano listing comes right before coin’s first birthday

This is a big step forward for Cardano since the coin is currently listed on a very few wallets on the current market. Additionally, there are no wallets for mobile devices that are supporting Cardano, which makes Infinito the first one to do so. Wallet’s developers have stated that crypto holders deserve a way to reach this coin on their mobile devices as well since a lot of them depend on a portable alternative to a desktop wallet.

Infinito has proven to be secure and stable, which makes it a perfect host for a coin such as Cardano, whose popularity continues to increase.

The support for the coin also came just before its first birthday, according to Charles Hoskinson’s recent statement. Hoskinson has pointed this out in a video post from Japan, where he is currently located. Japan will have a large role in Cardano’s birthday celebration, which will see numerous events starting today, September 29.

Despite this huge Cardano ADA news or the time of its arrival, the coin’s price still remains unaffected by the move.  At the time of writing, Cardano’s price is at $0.084276, with only a 1.5% increase in the last 24 hours. Even so, the coin manages to hold onto its position as the 9th largest crypto by market cap. As for the next few days, it is possible that Cardano’s birthday celebration might remind a portion of investors that this is a strong crypto, and inspire them to pay it some closer attention in the coming days.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

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Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

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Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama

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Solana Price Breaches $60 Amid a Symphony of Bullish Indicators

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Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.

SOL’s Bullish Cues

Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.

In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.

Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…

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